UBS Group AG
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed January 29, 2026), UBS Group AG reported 8,711 stock positions worth $504.5 billion. Its top holding was Nvidia (NVDA) at 2.9% of the portfolio, followed by Microsoft (MSFT, 2.7%) and Apple (AAPL, 2.4%). Compared with Q3 2025, it opened 1,106 new positions, sold out of 908, added to 3,562 and reduced 3,931. The biggest buy was SS SPDR S&P 500 ETF Trust-US (SPY, shares +21%) and the biggest sale Microsoft (MSFT, shares −8%).
- Most Recent 13F
- Q2 2026
- Location
- ZURICH, V8
- CIK
- 0001610520
- Portfolio Value
- $504.5B (Q4 2025)
- SEC Filing
- 0001610520-26-000004 ↗ filed Jan 29, 2026
Holdings Value
Holdings 8,711 stocks · $504.5B
| NVDA Nvidia Corp. | 2.86% | 77,489,454 | $14.5B | Reduce -11.5% |
| MSFT Microsoft Corp. | 2.69% | 28,044,188 | $13.6B | Reduce -7.6% |
| AAPL Apple Inc. | 2.40% | 44,547,157 | $12.1B | Reduce -10.6% |
| AVGO Broadcom Inc. | 1.63% | 23,774,356 | $8.2B | Add +0.9% |
| AMZN Amazon.com Inc. | 1.58% | 34,606,077 | $8.0B | Reduce -4.6% |
| SPY SS SPDR S&P 500 ETF Trust-US | 1.47% | 10,847,487 | $7.4B | Add +20.7% |
| GOOGL Alphabet Inc. Class A | 1.38% | 22,175,794 | $6.9B | Reduce -9.1% |
| UBS UBS Group AG-Reg | 1.29% | 140,490,368 | $6.5B | Add +6.0% |
| GOOG Alphabet Inc. Class C | 1.23% | 19,853,918 | $6.2B | Reduce -8.8% |
| META Meta Platforms Inc. Class A | 1.21% | 9,281,783 | $6.1B | Add +0.8% |
| JPM JPMorgan Chase & Co. | 1.21% | 18,895,635 | $6.1B | Reduce -3.4% |
| V Visa Inc. Class A | 0.81% | 11,601,998 | $4.1B | Add +1.7% |
| LLY Eli Lilly & Co. | 0.76% | 3,563,920 | $3.8B | Reduce -10.2% |
| QQQ Invesco QQQ Trust Series 1 | 0.73% | 5,962,070 | $3.7B | Reduce -3.3% |
| VUG Vanguard Mrngstar GR ETF-Sui | 0.54% | 5,614,562 | $2.7B | Reduce -3.3% |
| WMT Walmart Inc. | 0.52% | 23,718,176 | $2.6B | Add +29.8% |
| VOO Vanguard S&P 500 ETF | 0.50% | 4,030,702 | $2.5B | Reduce -1.5% |
| VTV Vanguard Mrngstr Val ETF-Aui | 0.48% | 12,641,987 | $2.4B | Reduce -7.0% |
| ABBV Abbvie Inc. | 0.48% | 10,526,920 | $2.4B | Reduce -10.2% |
| MU Micron Technology Inc. | 0.47% | 8,394,167 | $2.4B | Reduce -16.1% |
| HD Home Depot Inc. | 0.47% | 6,885,216 | $2.4B | Add +9.7% |
| COST Costco Wholesale Corp. | 0.46% | 2,715,908 | $2.3B | Reduce -5.0% |
| IWF iShares Russell 1000 Growth | 0.46% | 4,895,249 | $2.3B | Reduce -16.9% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.45% | 4,541,541 | $2.3B | Reduce -9.6% |
| CSCO Cisco Systems Inc. | 0.45% | 29,456,358 | $2.3B | Add +13.9% |
| GLD SPDR Gold Shares | 0.45% | 5,686,108 | $2.3B | Reduce -15.7% |
| MA Mastercard Inc. Class A | 0.44% | 3,927,382 | $2.2B | Reduce -3.5% |
| IVV iShares Core S&P 500 ETF | 0.44% | 3,248,974 | $2.2B | Reduce -31.9% |
| TSM Taiwan Semiconductor-SP ADR | 0.44% | 7,288,087 | $2.2B | Reduce -15.6% |
| ORCL Oracle Corp. | 0.44% | 11,314,085 | $2.2B | Reduce -1.9% |
| GS Goldman Sachs Group Inc. | 0.43% | 2,446,152 | $2.2B | Reduce -2.3% |
| JNJ Johnson & Johnson | 0.41% | 9,984,291 | $2.1B | Reduce -4.0% |
| MRK Merck & Co. Inc. | 0.40% | 19,178,272 | $2.0B | Add +13.4% |
| IEFA iShares Core MSCI Eafe ETF | 0.38% | 21,491,185 | $1.9B | Add +1.0% |
| MS Morgan Stanley | 0.37% | 10,642,269 | $1.9B | Add +3.0% |
| RSP Invesco S&P 500 Equal Weight | 0.37% | 9,824,792 | $1.9B | Add +39.8% |
| NFLX Netflix Inc. | 0.37% | 20,002,585 | $1.9B | Add +9.0% |
| XOM Exxon Mobil Corp. | 0.36% | 15,109,431 | $1.8B | Reduce -16.5% |
| TSLA Tesla Inc. | 0.36% | 4,019,633 | $1.8B | Reduce -15.1% |
| CVX Chevron Corp. | 0.35% | 11,555,593 | $1.8B | Add +4.2% |
| VEA Vanguard Ftse Developed ETF | 0.34% | 27,524,012 | $1.7B | Reduce -1.3% |
| KO The Coca-Cola Co. | 0.34% | 24,449,622 | $1.7B | Reduce -15.3% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.33% | 30,366,854 | $1.7B | Add +3.7% |
| RTX RTX Corp. | 0.33% | 9,026,670 | $1.7B | Reduce -3.4% |
| PANW Palo Alto Networks Inc. | 0.32% | 8,836,576 | $1.6B | Add +9.3% |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | 0.32% | 5,568,409 | $1.6B | Add +0.6% |
| QCOM Qualcomm Inc. | 0.31% | 9,208,839 | $1.6B | Reduce -2.6% |
| BABA Alibaba Group Holding-SP ADR | 0.31% | 10,709,880 | $1.6B | Add +27.1% |
| IJH iShares Core S&P Midcap ETF | 0.30% | 23,117,303 | $1.5B | Add +0.1% |
| MCD McDonald's Corp. | 0.30% | 4,962,062 | $1.5B | Reduce -6.5% |
| UBER Uber Technologies Inc. | 0.29% | 18,138,960 | $1.5B | Add +8.9% |
| NEE Nextera Energy Inc. | 0.29% | 18,429,083 | $1.5B | Reduce -1.0% |
| HON Honeywell International Inc. | 0.28% | 7,290,861 | $1.4B | Reduce -2.6% |
| BSX Boston Scientific Corp. | 0.28% | 14,872,126 | $1.4B | Add +40.7% |
| TLT iShares 20+ Year Treasury BD | 0.28% | 16,064,679 | $1.4B | Add +6.4% |
| IWD iShares Russell 1000 Value E | 0.28% | 6,611,520 | $1.4B | Reduce -13.9% |
| PG The Procter & Gamble Co. | 0.27% | 9,601,142 | $1.4B | Reduce -18.3% |
| VIG Vanguard Dividend Apprec ETF | 0.27% | 6,258,850 | $1.4B | Reduce -1.1% |
| VTI VG Morningstar TS MKT ETF-US | 0.27% | 4,065,748 | $1.4B | Reduce -0.6% |
| TMO Thermo Fisher Scientific Inc. | 0.27% | 2,323,343 | $1.3B | Add +0.2% |
| AMGN Amgen Inc. | 0.27% | 4,104,524 | $1.3B | Reduce -3.0% |
| LRCX Lam Research Corp. | 0.26% | 7,781,054 | $1.3B | Add +4.8% |
| XLK SS Technology Select Sector | 0.26% | 9,232,033 | $1.3B | Reduce -9.5% |
| ABT Abbott Laboratories | 0.26% | 10,480,069 | $1.3B | Add +6.8% |
| AMD Advanced Micro Devices | 0.26% | 6,074,104 | $1.3B | Reduce -24.3% |
| CRM Salesforce Inc. | 0.26% | 4,890,834 | $1.3B | Reduce -16.6% |
| GE General Electric filed as GE AEROSPACE | 0.25% | 4,138,431 | $1.3B | Add +21.5% |
| ETN Eaton Corp. PLC | 0.25% | 3,892,901 | $1.2B | Reduce -6.8% |
| APP AppLovin Corp. Class A | 0.24% | 1,825,838 | $1.2B | Add +13.5% |
| DB Deutsche Bank AG-Registered | 0.24% | 31,268,175 | $1.2B | Add +4.4% |
| TXN Texas Instruments Inc. | 0.24% | 6,852,477 | $1.2B | Add +6.9% |
| IWM iShares Russell 2000 ETF | 0.24% | 4,824,892 | $1.2B | Add +24.2% |
| AXP American Express Co. | 0.24% | 3,208,427 | $1.2B | Reduce -16.9% |
| PLTR Palantir Technologies Inc. Class A | 0.23% | 6,603,921 | $1.2B | Reduce -13.5% |
| IJR iShares Core S&P Small-Cap E | 0.23% | 9,577,268 | $1.2B | Reduce -7.7% |
| VGT Vanguard Info Tech ETF | 0.23% | 1,524,284 | $1.1B | Reduce -11.2% |
| BA The Boeing Co. | 0.23% | 5,278,778 | $1.1B | Add +16.7% |
| UNP Union Pacific Corp. | 0.23% | 4,952,716 | $1.1B | Add +6.0% |
| EFA iShares MSCI Eafe ETF | 0.22% | 11,766,147 | $1.1B | Reduce -1.9% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.22% | 7,341,712 | $1.1B | Reduce -3.6% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.22% | 3,731,999 | $1.1B | Reduce -17.2% |
| IVW iShares S&P 500 Growth ETF | 0.21% | 8,688,281 | $1.1B | Reduce -2.5% |
| VWO Vanguard Ftse Emerging Marke | 0.21% | 19,857,045 | $1.1B | Add +2.2% |
| ISRG Intuitive Surgical Inc. | 0.20% | 1,821,718 | $1.0B | Reduce -1.0% |
| VB Vanguard Most SM-Cap ETF-Usd | 0.20% | 3,916,098 | $1.0B | Add +1.7% |
| EA Electronic Arts Inc. | 0.20% | 4,930,293 | $1.0B | Add +268.3% |
| WFC Wells Fargo & Co. | 0.20% | 10,766,512 | $1.0B | Add +8.2% |
| BLK BlackRock Inc. | 0.20% | 935,112 | $1.0B | Reduce -6.0% |
| PEP Pepsico Inc. | 0.20% | 6,959,113 | $998.8M | Add +17.4% |
| LIN Linde PLC | 0.20% | 2,342,121 | $998.7M | Add +0.1% |
| PWR Quanta Services Inc. | 0.20% | 2,334,528 | $985.3M | Add +11.0% |
| GEV GE Vernova Inc. | 0.19% | 1,496,692 | $978.2M | Add +6.4% |
| IEMG iShares Core MSCI Emerging | 0.19% | 14,387,278 | $967.1M | Add +5.5% |
| WBD Warner Bros Discovery Inc. | 0.19% | 33,339,744 | $960.9M | Add +36.1% |
| AGG iShares Core U.S. Aggregate | 0.19% | 9,407,380 | $939.6M | Add +0.4% |
| VZ Verizon Communications Inc. | 0.18% | 22,293,329 | $908.0M | Reduce -16.5% |
| ADI Analog Devices Inc. | 0.18% | 3,329,183 | $902.9M | Add +3.3% |
| UNH Unitedhealth Group Inc. | 0.18% | 2,723,663 | $899.1M | Reduce -40.3% |
| BX Blackstone Inc. | 0.18% | 5,806,229 | $895.0M | Reduce -11.8% |
| AMAT Applied Materials Inc. | 0.17% | 3,416,516 | $878.0M | Reduce -15.0% |
Options reported separately and not counted above: MSFT calls ($4.0B), SPY puts ($3.3B), NVDA puts ($3.2B), IWM puts ($2.7B), AAPL puts ($2.7B), NVDA calls ($2.4B), QQQ puts ($2.2B), TSLA calls ($2.0B), MP calls ($1.7B), SPY calls ($1.6B), AAPL calls ($1.5B), GLD calls ($1.5B), and 1338 more.
Other holdings (374): bonds, preferreds, convertibles and warrants · $422.3M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| ALIBABA GROUP HOLDING (BABA 0.5 06/01/31) | NOTE 0.500% 6/0 · principal | 42,820,000 | $66.5M | Add +140.5% |
| TELADOC HEALTH INC (TDOC 1.25 06/01/27) | NOTE 1.250% 6/0 · principal | 34,324,000 | $32.6M | New |
| EVERGY INC (EVRG 4.5 12/15/27) | NOTE 4.500%12/1 · principal | 23,606,000 | $28.7M | New |
| IREN LTD (IREN 3.25 06/15/30) | NOTE 3.250% 6/1 · principal | 8,384,000 | $20.5M | New |
| WAYFAIR INC (W 3.5 11/15/28) | NOTE 3.500%11/1 · principal | 8,507,000 | $19.5M | New |
| PEABODY ENERGY CORP (BTU 3.25 03/01/28) | NOTE 3.250% 3/0 · principal | 10,235,000 | $17.2M | New |
| UNITY SOFTWARE INC (U 0 11/15/26) | NOTE 11/1 · principal | 16,721,000 | $16.1M | New |
| PROGRESS SOFTWARE CORP (PRGS 1 04/15/26) | NOTE 1.000% 4/1 · principal | 15,850,000 | $15.7M | Add +19.4% |
| CONFLUENT INC (CFLT 0 01/15/27) | NOTE 1/1 · principal | 15,001,500 | $14.6M | Add +1000000.0% |
| PENNYMAC CORP (PMT 8.5 06/01/29) | NOTE 8.500% 6/0 · principal | 13,000,000 | $13.8M | New |
| GOSSAMER BIO INC (GOSS 5 06/01/27) | NOTE 5.000% 6/0 · principal | 15,000,000 | $10.1M | New |
| MARA HOLDINGS INC (MARA 2.125 09/01/31) | NOTE 2.125% 9/0 · principal | 12,200,000 | $9.8M | New |
| LEMAITRE VASCULAR INC (LMAT 2.5 02/01/30) | NOTE 2.500% 2/0 · principal | 9,538,000 | $9.5M | New |
| BANK OF AMERICA CORP (BAC 7.25 PERP L) | 7.25%CNV PFD L | 7,561 | $9.5M | Add +11.6% |
| ARRAY TECHNOLOGIES INC (ARRY 1 12/01/28) | NOTE 1.000%12/0 · principal | 10,071,330 | $9.1M | Add +757142.9% |
| WELLS FARGO & COMPANY (WFC 7.5 PERP L) | PERP PFD CNV A | 7,454 | $9.0M | Add +8.5% |
| ENCORE CAPITAL GROUP INC (ECPG 4 03/15/29) | NOTE 4.000% 3/1 · principal | 7,848,000 | $8.6M | New |
| MAGNITE INC (MGNI 0.25 03/15/26) | NOTE 0.250% 3/1 · principal | 8,000,000 | $7.9M | New |
| SEA LTD (SEALTD 0.25 09/15/26) | NOTE 0.250% 9/1 · principal | 7,925,000 | $7.7M | New |
| BLOOM ENERGY CORP (BE 3 06/01/28) | NOTE 3.000% 6/0 · principal | 1,593,000 | $7.4M | New |
| WEC ENERGY GROUP INC (WEC 4.375 06/01/29) | NOTE 4.375% 6/0 · principal | 6,345,000 | $7.4M | New |
| AKAMAI TECHNOLOGIES INC (AKAM 1.125 02/15/29) | NOTE 1.125% 2/1 · principal | 6,335,000 | $6.3M | New |
| KKR & CO INC (KKR 6.25 03/01/28 D) | 6.25 CON SER D | 112,554 | $5.8M | New |
| PINNACLE WEST CAPITAL (PNW 4.75 06/15/27) | NOTE 4.750% 6/1 · principal | 4,676,000 | $5.0M | New |
| SOUTHERN CO (SO 7.125 12/15/28 A) | UNIT 12/15/2028 | 97,632 | $4.9M | New |
| SEMTECH CORP (SMTC 1.625 11/01/27) | NOTE 1.625%11/0 · principal | 2,111,000 | $4.3M | New |
| WORKIVA INC (WK 1.125 08/15/26) | NOTE 1.125% 8/1 · principal | 3,562,000 | $4.1M | New |
| JD.COM INC (JD 0.25 06/01/29) | NOTE 0.250% 6/0 · principal | 3,800,000 | $3.8M | Reduce -20.8% |
| ETSY INC (ETSY 0.125 09/01/27) | NOTE 0.125% 9/0 · principal | 4,065,000 | $3.8M | Reduce -70.4% |
| H WORLD GROUP LTD (HTHT 3 05/01/26) | NOTE 3.000% 5/0 · principal | 2,856,500 | $3.6M | Add +190333.3% |
| CONMED CORP (CNMD 2.25 06/15/27) | NOTE 2.250% 6/1 · principal | 3,454,330 | $3.3M | Add +259624.1% |
| UPSTART HOLDINGS INC (UPST 0.25 08/15/26) | NOTE 0.250% 8/1 · principal | 3,327,000 | $3.2M | New |
| BOEING CO/THE (BA 6 10/15/27) | DEP CONV PFD A | 42,341 | $2.9M | Add +561.6% |
| FASTLY INC (FSLY 0 03/15/26) | NOTE 3/1 · principal | 2,760,000 | $2.7M | New |
| SNAP INC (SNAP 0.5 05/01/30) | NOTE 0.500% 5/0 · principal | 3,000,000 | $2.6M | New |
| GREEN PLAINS INC (GPRE 2.25 03/15/27) | NOTE 2.250% 3/1 · principal | 2,522,000 | $2.4M | New |
| BOX INC (BOX 1.5 09/15/29) | NOTE 1.500% 9/1 · principal | 2,452,000 | $2.4M | New |
| SHIFT4 PAYMENTS INC (FOUR 0.5 08/01/27) | NOTE 0.500% 8/0 · principal | 1,821,000 | $1.7M | New |
| ON SEMICONDUCTOR CORP (ON 0 05/01/27) | NOTE 5/0 · principal | 1,445,000 | $1.7M | Add +172.1% |
| AKAMAI TECHNOLOGIES INC (AKAM 0.375 09/01/27) | NOTE 0.375% 9/0 · principal | 1,525,000 | $1.5M | New |
| OMNICELL INC (OMCL 1 12/01/29) | NOTE 1.000%12/0 · principal | 1,287,000 | $1.4M | New |
| FIVE9 INC (FIVN 1 03/15/29) | NOTE 1.000% 3/1 · principal | 1,525,000 | $1.4M | New |
| CORZW Core Scientific Inc. - 27 | *W EXP 01/23/202 | 154,739 | $1.3M | Add +0.3% |
| TRANSMEDICS GROUP INC (TMDX 1.5 06/01/28) | NOTE 1.500% 6/0 · principal | 850,670 | $1.3M | Reduce -77.8% |
| EVOLENT HEALTH INC (EVH 3.5 12/01/29) | NOTE 3.500%12/0 · principal | 1,681,000 | $1.1M | New |
| NOVANTA INC (NOVT 6.5 11/01/28) | UNIT 11/01/2028 | 14,700 | $808K | New |
| TETRA TECH INC (TTEK 2.25 08/15/28) | DBCV 2.250% 8/1 · principal | 633,330 | $686K | Add +47518.8% |
| SPECIAL OPPORTUNITY FUND (SPE 2.75 01/27/27 C) | 2.75% CNV PFD C | 26,983 | $667K | Reduce -10.2% |
| PELOTON INTERACTIVE INC (PTON 0 02/15/26) | NOTE 2/1 · principal | 624,000 | $615K | New |
| SILVERCORP METALS INC | NOTE 4.750%12/1 · principal | 297,000 | $603K | New |
| RGTIW Rigetti Computing -CW27 | *W EXP 03/02/202 | 46,355 | $515K | Add +65.5% |
| GME.WS Gamestop Corp. | *W EXP 10/30/202 | 170,861 | $514K | Reduce -26.3% |
| XOMETRY INC (XMTR 1 02/01/27) | NOTE 1.000% 2/0 · principal | 399,000 | $502K | New |
| OXY.WS Occidental Petroleum-CW27 | *W EXP 08/03/202 | 16,540 | $319K | Add +0.4% |
| SOLARIS ENERGY INFRASTRU (SEI 0.25 10/01/31) | NOTE 0.250%10/0 · principal | 261,000 | $282K | New |
| DRAFTKINGS HOLDINGS INC (DKNG 0 03/15/28) | NOTE 3/1 · principal | 284,500 | $260K | Add +934.5% |
| GREENBRIER COS INC (GBX 2.875 04/15/28) | NOTE 2.875% 4/1 · principal | 212,000 | $228K | New |
| SOLARIS ENERGY INFRASTRU (SEI 4.75 05/01/30) | NOTE 4.750% 5/0 · principal | 113,000 | $225K | New |
| GENVR Gen Digital Inc. - CVR | RIGHT 99/99/9999 | 38,742 | $175K | Reduce -16.0% |
| DIGITALOCEAN HOLDINGS (DOCN 0 12/01/26) | NOTE 12/0 · principal | 178,000 | $171K | New |
| APOLLO GLOBAL MANAGEMENT (APO 6.75 07/31/26) | SER A MAND CNV | 2,053 | $155K | Add +274.6% |
| BIOMARIN PHARMACEUTICAL (BMRN 1.25 05/15/27) | NOTE 1.250% 5/1 · principal | 147,000 | $141K | Add +7250.0% |
| MKS INC (MKSI 1.25 06/01/30) | NOTE 1.250% 6/0 · principal | 107,000 | $136K | Add +118.4% |
| EXACT SCIENCES CORP (EXAS 0.375 03/15/27) | NOTE 0.375% 3/1 · principal | 126,000 | $132K | New |
| TRIP.COM GROUP LTD (TCOM 0.75 06/15/29) | NOTE 0.750% 6/1 · principal | 101,000 | $124K | Reduce -81.0% |
| ALIGNMENT HEALTHCARE (ALHC 4.25 11/15/29) | NOTE 4.250%11/1 · principal | 74,000 | $112K | New |
| EXEEL Chesapeake Energy Corp. -CW26 | *W EXP 02/09/202 | 1,072 | $107K | Reduce -24.2% |
| EL PASO ENERGY CAP TRST (KMI 4.75 03/31/28) | PFD CV TR SEC 28 | 2,049 | $101K | Reduce -47.7% |
| BLACKSTONE MORTGAGE TR (BXMT 5.5 03/15/27) | NOTE 5.500% 3/1 · principal | 50,000 | $49K | No change |
| EXPEDIA GROUP INC (EXPE 0 02/15/26) | NOTE 2/1 · principal | 34,000 | $38K | Add +1033.3% |
| FORD MOTOR COMPANY (F 0 03/15/26) | NOTE 3/1 · principal | 35,830 | $37K | Reduce -99.8% |
| ARES MANAGEMENT CORP (ARES 6.75 10/01/27 B) | 6.75 SE B PFD | 620 | $31K | Add +60.6% |
| ENVISTA HOLDINGS CORP (NVST 1.75 08/15/28) | NOTE 1.750% 8/1 · principal | 32,000 | $31K | New |
| OPENW Opendoor Technologies Inc.-26 | *W EXP 11/20/202 | 33,869 | $30K | Reduce -84.2% |
| GLOBAL PAYMENTS INC (GPN 1.5 03/01/31) | NOTE 1.500% 3/0 · principal | 32,000 | $29K | New |
| UBER TECHNOLOGIES INC (UBER 0.875 12/01/28 2028) | NOTE 0.875%12/0 · principal | 19,000 | $25K | New |
| RLJ LODGING TRUST (RLJ 1.95 PERP A) | CUM CONV PFD A | 986 | $25K | Reduce -8.4% |
| T1 ENERGY INC | *W EXP 07/09/202 | 20,237 | $24K | No change |
| NE.WS Noble Corp. PLC-28 | *W EXP 02/04/202 | 1,258 | $22K | Reduce -28.3% |
| CVE.WS Cenovus Energy Inc. -CW26 | *W EXP 01/01/202 | 1,753 | $22K | Reduce -30.6% |
| NOBLE CORP PLC-28 | *W EXP 02/04/202 | 2,551 | $21K | Add +1.5% |
| DATADOG INC (DDOG 0 12/01/29) | NOTE 12/0 · principal | 21,000 | $21K | New |
| QTEXW Inspira Tech Oxy BHN -CW26 | *W EXP 07/16/202 | 83,373 | $20K | Reduce -11.6% |
| MERITAGE HOMES CORP (MTH 1.75 05/15/28) | NOTE 1.750% 5/1 · principal | 20,000 | $20K | Reduce -99.7% |
| CMS ENERGY CORP (CMS 3.375 05/01/28) | NOTE 3.375% 5/0 · principal | 18,000 | $19K | New |
| OPENL Opendoor Technologies Inc.-26 | *W EXP 11/20/202 | 32,982 | $17K | New |
| EPR PROPERTIES (EPR 5.75 PERP C) | PFD C CV 5.75% | 749 | $17K | Reduce -78.3% |
| DFDVW Defi Development Corp. | *W EXP 01/21/202 | 10,694 | $17K | New |
| BIAFW Bioaffinity Technologiew-27 | *W EXP 09/07/202 | 46,549 | $16K | Reduce -2.4% |
| NEXTERA ENERGY INC (NEE 7.234 11/01/27) | UNIT 11/01/2027 | 282 | $14K | New |
| OPENZ Opendoor Technologies Inc.-26 | *W EXP 11/20/202 | 32,030 | $13K | New |
| ALLIANT ENERGY CORP (LNT 3.875 03/15/26) | NOTE 3.875% 3/1 · principal | 12,000 | $12K | New |
| PARSONS CORP (PSN 2.625 03/01/29) | NOTE 2.625% 3/0 · principal | 12,000 | $12K | Reduce -60.0% |
| WAYFAIR INC (W 3.25 09/15/27) | NOTE 3.250% 9/1 · principal | 7,000 | $12K | Add +600.0% |
| DEXCOM INC (DXCM 0.375 05/15/28) | NOTE 0.375% 5/1 · principal | 12,000 | $11K | Reduce -99.7% |
| NAMSW Newamsterdam Pharma Co. NV-27 | *W EXP 99/99/999 | 396 | $9K | Reduce -22.7% |
| FLAGSTAR BANK NA (FLG 6 11/01/51) | UNIT 05/07/2051 | 209 | $8K | Reduce -86.0% |
| DRTSW Alpha Tau Medical Ltd. -27 | *W EXP 99/99/999 | 21,360 | $7K | Reduce -16.6% |
| LXP INDUSTRIAL TRUST (LXP 6.5 PERP C) | PFD CONV SER C | 152 | $7K | New |
| TYLER TECHNOLOGIES INC (TYL 0.25 03/15/26) | NOTE 0.250% 3/1 · principal | 7,000 | $7K | Add +600.0% |
| HTZWW Hertz Global Hldgs Inc. -CW51 | *W EXP 06/30/205 | 2,204 | $6K | Reduce -85.0% |
| SYNAPTICS INC (SYNA 0.75 12/01/31) | NOTE 0.750%12/0 · principal | 5,000 | $5K | New |
| YHNAR YHN Acquisition I Ltd. | RIGHT 08/15/2029 | 42,403 | $5K | Reduce 0.0% |
| LUMENTUM HOLDINGS INC (LITE 0.5 12/15/26) | NOTE 0.500%12/1 · principal | 1,330 | $5K | No change |
| NNAVW Nextnav Inc. | *W EXP 99/99/999 | 628 | $4K | New |
| STRATEGY INC (MSTR 8 PERP) | SERIES A PERP PF | 57 | $4K | Reduce -93.8% |
| RANGR Range Capital Acquisition Co. | RIGHT 99/99/9999 | 9,889 | $4K | Reduce -10.8% |
| CAPNR Cayson Acquisition Corp. | RIGHT 99/99/9999 | 19,347 | $4K | Reduce -17.1% |
| ESHAR Esh Acquisition Corp. - Right | RIGHT 06/13/2028 | 17,490 | $4K | Reduce -19.4% |
| IRS.WS Irsa Inversiones Y Rep -CW26 | *W EXP 05/12/202 | 2,252 | $4K | Add +16.8% |
| BENTLEY SYSTEMS INC (BSY 0.125 01/15/26) | NOTE 0.125% 1/1 · principal | 4,000 | $4K | No change |
| HDRNW GIGCAPITAL7 Corp.-A - 29 | *W EXP 08/29/202 | 9,570 | $4K | New |
| PEBBLEBROOK HOTEL TRUST (PEB 6.375 PERP E) | 6.375 PFD SER E | 200 | $4K | Reduce -98.5% |
| BKHAR Black Hawk Acquisition C-RTS | RIGHT 06/20/2025 | 3,000 | $4K | Reduce -33.4% |
| AXON ENTERPRISE INC (AXON 0.5 12/15/27) | NOTE 0.500%12/1 · principal | 1,500 | $4K | No change |
| GUARDANT HEALTH INC (GH 1.25 02/15/31) | DEBT 1.250% 2/1 · principal | 2,000 | $4K | New |
| ASPCR A Spac III Acquisition Corp. | RIGHT 01/02/2026 | 18,754 | $4K | Reduce -15.1% |
| NPACW New Providence Acq A -CW28 | *W EXP 04/24/203 | 6,900 | $3K | Add +3350.0% |
| BRIGHTSPRING HEALTH SERV (BTSG 6.75 02/01/27) | UNIT 02/01/2027 | 27 | $3K | Reduce -85.3% |
| QUMSR Quantumsphere Acquisition Co. | RIGHT 08/06/2030 | 16,104 | $3K | New |
| BULLW Webull Corp.-30 | *W EXP 04/10/203 | 1,169 | $3K | New |
| ON SEMICONDUCTOR CORP (ON 0.5 03/01/29) | NOTE 0.500% 3/0 · principal | 3,500 | $3K | Reduce -98.8% |
| FCRS.WS Futurecrest Acquisition Corp. | *W EXP 09/30/203 | 4,375 | $3K | New |
| KDKRW Ares Acquisition Corp. II-28 | *W EXP 09/25/203 | 2,053 | $3K | New |
| CORZZ Core Scientific Inc. - 29 | *W EXP 01/23/202 | 212 | $3K | Reduce -54.2% |
| BBLGW Bone Biologics Corp. -CW26 | *W EXP 10/13/202 | 300 | $3K | Add +109.8% |
| SBFMW Sunshine Biopharma Inc. -27 | *W EXP 02/15/202 | 22,483 | $3K | Reduce -3.9% |
| FVNNR Future Vision II Acquisi-RTS | RIGHT 06/29/2029 | 22,237 | $3K | Reduce -2.2% |
| DISH NETWORK CORP (DISH 3.375 08/15/26) | NOTE 3.375% 8/1 · principal | 3,000 | $3K | No change |
| PL.WS Planet Labs PBC -CW26 | *W EXP 12/06/202 | 324 | $3K | Add +117.5% |
| VAL.WS Valaris Ltd. -CW28 | *W EXP 04/29/202 | 1,585 | $3K | Add +249.9% |
| ENPHASE ENERGY INC (ENPH 0 03/01/28) | NOTE 3/0 · principal | 3,000 | $3K | No change |
| ASPSW Altisource Portfolio - 30 | *W EXP 04/30/203 | 6,183 | $3K | Add +23.4% |
| AIRBNB INC (ABNB 0 03/15/26) | NOTE 3/1 · principal | 2,500 | $2K | No change |
| BDMDW Baird Medical Investment -28 | *W EXP 10/01/202 | 48,196 | $2K | Reduce -2.7% |
| DSX.WS Diana Shipping Inc.-28 | *W EXP 12/14/202 | 28,003 | $2K | Reduce -0.2% |
| DAVEW Dave Inc. -CW27 | *W EXP 01/05/202 | 2,536 | $2K | Add +4684.9% |
| CCIXW Churchill Capital Corp. I-29 | *W EXP 03/31/203 | 2,287 | $2K | New |
| CHEFS' WAREHOUSE THE (CHEF 2.375 12/15/28) | NOTE 2.375%12/1 · principal | 1,330 | $2K | No change |
| DROPBOX INC (DBX 0 03/01/26) | NOTE 3/0 · principal | 2,000 | $2K | No change |
| CHEESECAKE FACTORY (THE) (CAKE 0.375 06/15/26) | NOTE 0.375% 6/1 · principal | 2,000 | $2K | No change |
| DC.WS Dakota Gold Corp.-26 | *W EXP 03/15/202 | 541 | $2K | New |
| LIVE NATION ENTERTAINMEN (LYV 3.125 01/15/29) | NOTE 3.125% 1/1 · principal | 1,330 | $2K | No change |
| BRIDGEBIO PHARMA INC (BBIO 2.5 03/15/27) | NOTE 2.500% 3/1 · principal | 1,000 | $2K | New |
| IAUX.WS I-80 Gold Corp. -26 | *W EXP 11/16/202 | 2,009 | $2K | New |
| HALOZYME THERAPEUTICS IN (HALO 1 08/15/28) | NOTE 1.000% 8/1 · principal | 1,330 | $2K | No change |
| MIRUM PHARMACEUTICALS (MIRM 4 05/01/29) | NOTE 4.000% 5/0 · principal | 670 | $2K | No change |
| PATRICK INDUSTRIES INC (PATK 1.75 12/01/28) | NOTE 1.750%12/0 · principal | 1,000 | $2K | No change |
| DNMXW Dynamix Corp. III | *W EXP 10/10/203 | 5,050 | $2K | New |
| ABLVW Able View Global Inc.-28 | *W EXP 08/18/202 | 54,691 | $2K | Add +3174.9% |
| OABIW Omniab Inc. - CW26 | *W EXP 99/99/999 | 19,737 | $2K | Reduce -0.0% |
| CRMLW Critical Metals Corp.-28 | *W EXP 02/27/202 | 560 | $2K | New |
| LANTHEUS HOLDINGS INC (LNTH 2.625 12/15/27) | NOTE 2.625%12/1 · principal | 1,330 | $2K | No change |
| INTEGER HOLDINGS CORP (ITGR 2.125 02/15/28) | NOTE 2.125% 2/1 · principal | 1,330 | $1K | No change |
| COINBASE GLOBAL INC (COIN 0.5 06/01/26) | NOTE 0.500% 6/0 · principal | 1,500 | $1K | No change |
| NUTANIX INC (NTNX 0.25 10/01/27) | NOTE 0.250%10/0 · principal | 1,330 | $1K | No change |
| AENTW Adara Acquisition Class A -CW26 | *W EXP 02/11/202 | 1,744 | $1K | Add +1241.5% |
| OCSAW Oculis Holding AG -30 | *W EXP 03/06/202 | 170 | $1K | No change |
| PSNYW Polestar Auto Class C-1 ADS | ADS CL C-1 | 227 | $1K | Reduce -90.6% |
| POST HOLDINGS INC (POST 2.5 08/15/27) | NOTE 2.500% 8/1 · principal | 1,330 | $1K | No change |
| SHAKE SHACK INC (SHAK 0 03/01/28) | NOTE 3/0 · principal | 1,500 | $1K | No change |
| RSVRW Reservoir Media-CW26 | *W EXP 08/26/202 | 4,937 | $1K | Reduce -59.0% |
| ASPSZ Altisource Portfolio - 29C | *W EXP 04/02/202 | 4,170 | $1K | Reduce -14.4% |
| EURKR Eureka Acquisition Corp.-RTS | RIGHT 07/03/2026 | 3,413 | $1K | Reduce -17.0% |
| AFJKR Aimei Health Technology Co. L | RIGHT 11/17/2028 | 3,455 | $1K | Reduce -92.6% |
| MGP INGREDIENTS INC (MGPI 1.875 11/15/41) | NOTE 1.875%11/1 · principal | 1,330 | $1K | No change |
| PEBBLEBROOK HOTEL TRUST (PEB 1.75 12/15/26) | NOTE 1.750%12/1 · principal | 1,330 | $1K | No change |
| NORTHERN OIL & GAS INC (NOG 3.625 04/15/29) | NOTE 3.625% 4/1 · principal | 1,330 | $1K | No change |
| PGYWW Pagaya Technologies Ltd. -27 | *W EXP 99/99/999 | 3,906 | $1K | Add +549.9% |
| ANNAW Aleanna Inc. Class A - 29 | *W EXP 12/13/202 | 8,430 | $1K | New |
| FRESHPET INC (FRPT 3 04/01/28) | NOTE 3.000% 4/0 · principal | 1,000 | $1K | No change |
| TVACW Texas Ventures Acq -31 | *W EXP 04/23/203 | 1,247 | $1K | New |
| FACWW Cartesian Growth Corp. -30 | *W EXP 05/02/203 | 1,374 | $1K | New |
| PEW.WS Grabagun Digital Holdings Inc. | *W EXP 99/99/999 | 2,884 | $1K | Add +6036.2% |
| SLDPW Decarbonization Plus -CW23 | *W EXP 12/08/202 | 1,433 | $1K | New |
| PGACR Pantages Capital Acquis-RT | RIGHT 11/15/2029 | 5,033 | $1K | Reduce -90.3% |
| ALNYLAM PHARMACEUTICALS (ALNY 1 09/15/27) | NOTE 1.000% 9/1 · principal | 670 | $985 | No change |
| INFQ.WS Churchill Capital Corp. X | *W EXP 05/14/203 | 127 | $978 | New |
| CRGOW Freightos Ltd.-CW28 | *W EXP 99/99/999 | 6,438 | $966 | Add +416.7% |
| AISPW Airship AI Holdings Inc.-CW28 | *W EXP 12/21/202 | 1,200 | $960 | Add +24.4% |
| AFRIW Forafric Global PLC -CW27 | *W EXP 06/09/202 | 684 | $958 | Reduce -50.9% |
| SPWRW Sunpower Inc.-CW27 | *W EXP 07/31/202 | 3,668 | $880 | Add +1178.0% |
| AIRJW Power & Digital Acq -CW24 | *W EXP 03/15/202 | 1,030 | $876 | New |
| KOSMOS ENERGY LTD (KOS 3.125 03/15/30) | NOTE 3.125% 3/1 · principal | 2,000 | $845 | New |
| RIVIAN AUTO INC (RIVN 4.625 03/15/29) | NOTE 4.625% 3/1 · principal | 670 | $842 | No change |
| GTERW Globa Terra Acquisition - 30 | *W EXP 06/17/203 | 6,495 | $818 | New |
| KOYNW CSLM Digital Asset Acquisiti | *W EXP 08/28/203 | 2,241 | $784 | New |
| AI INFRASTRUCTURE ACQUISITIO | RIGHT 99/99/9999 | 3,000 | $780 | New |
| LEGT.WS Legato Merger Corp. III-29 | *W EXP 05/08/203 | 1,899 | $779 | Add +75.7% |
| KIMCO REALTY CORP (KIM 7.25 PERP N) | DP CV CL N 7.25% | 12 | $703 | Reduce -96.0% |
| STRIDE INC (LRN 1.125 09/01/27) | NOTE 1.125% 9/0 · principal | 500 | $682 | No change |
| ETSY INC (ETSY 0.125 10/01/26) | NOTE 0.125%10/0 · principal | 670 | $676 | No change |
| GIPRW Generation Income Proper -CW | *W EXP 99/99/999 | 13,118 | $669 | Reduce -56.0% |
| POLEW Andretti Acquisition Corp.-29 | *W EXP 06/01/203 | 2,250 | $650 | Add +946.5% |
| BFRGW Bullfrog AI Holdings Inc.-28 | *W EXP 01/18/202 | 3,060 | $584 | Reduce -83.2% |
| MCGAW Yorkville Acquisition - 30 | *W EXP 06/06/203 | 1,163 | $582 | New |
| NPWR.WS Rice Acquisition Corp. II-CW | *W EXP 06/08/202 | 1,127 | $564 | New |
| CDROW Codere Online Luxembou -CW | *W EXP 11/23/202 | 675 | $547 | New |
| AMPGW Amplitech Group Inc.-CW26 | *W EXP 02/26/202 | 6,436 | $515 | Add +29154.5% |
| ABVWF Above Food Ingredients- 29 | *W EXP 06/28/202 | 1,455 | $509 | Add +125.6% |
Largest 200 of 374 shown.
Total filed on the 13F, all lines: $505.0B.
Portfolio Sells Q3 2025 → Q4 2025
| MSFT Microsoft Corp. | Reduce -7.6% | 2.69% | −0.39 |
| NVDA Nvidia Corp. | Reduce -11.5% | 2.86% | −0.33 |
| ORCL Oracle Corp. | Reduce -1.9% | 0.44% | −0.20 |
| IVV iShares Core S&P 500 ETF | Reduce -31.9% | 0.44% | −0.18 |
| UNH Unitedhealth Group Inc. | Reduce -40.3% | 0.18% | −0.13 |
| MDT Medtronic PLC | Reduce -62.8% | 0.08% | −0.13 |
| K Kellanova | Sold out | 0.00% | −0.12 |
| LUV Southwest Airlines Co. | Reduce -73.6% | 0.06% | −0.12 |
| BE Bloom Energy Corp. Class A | Reduce -66.6% | 0.05% | −0.09 |
| PG The Procter & Gamble Co. | Reduce -18.3% | 0.27% | −0.08 |
| IWF iShares Russell 1000 Growth | Reduce -16.9% | 0.46% | −0.08 |
| AAPL Apple Inc. | Reduce -10.6% | 2.40% | −0.08 |
| ACN Accenture PLC Class A | Reduce -38.7% | 0.14% | −0.07 |
| SW Smurfit Westrock PLC | Reduce -67.8% | 0.03% | −0.07 |
| FISV Fiserv Inc. | Reduce -24.5% | 0.04% | −0.07 |
| NSC Norfolk Southern Corp. | Reduce -49.2% | 0.06% | −0.06 |
| ETN Eaton Corp. PLC | Reduce -6.8% | 0.25% | −0.06 |
| SHW The Sherwin-Williams Co. | Reduce -37.1% | 0.08% | −0.05 |
| ABBV Abbvie Inc. | Reduce -10.2% | 0.48% | −0.05 |
| TSLA Tesla Inc. | Reduce -15.1% | 0.36% | −0.05 |
| COST Costco Wholesale Corp. | Reduce -5.0% | 0.46% | −0.05 |
| CME Cme Group Inc. | Reduce -35.1% | 0.10% | −0.05 |
| IPG Interpublic Group of Cos Inc. | Sold out | 0.00% | −0.05 |
| VZ Verizon Communications Inc. | Reduce -16.5% | 0.18% | −0.05 |
| WELL Welltower Inc. | Reduce -46.2% | 0.06% | −0.05 |
| CSGP Costar Group Inc. | Reduce -54.2% | 0.03% | −0.05 |
| ANET Arista Networks Inc. | Reduce -20.4% | 0.12% | −0.05 |
| WDAY Workday Inc. Class A | Reduce -25.1% | 0.10% | −0.05 |
| WNS WNS Holdings Ltd. | Sold out | 0.00% | −0.05 |
| FLR Fluor Corp. | Reduce -83.6% | 0.01% | −0.05 |
| BX Blackstone Inc. | Reduce -11.8% | 0.18% | −0.04 |
| T AT&T Inc. | Reduce -18.2% | 0.11% | −0.04 |
| FXI iShares China Large-Cap ETF | Reduce -17.4% | 0.15% | −0.04 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -9.6% | 0.45% | −0.04 |
| OKLO Oklo Inc. | Reduce -60.3% | 0.01% | −0.04 |
| BMO Bank of Montreal | Reduce -75.6% | 0.01% | −0.04 |
| DTE DTE Energy Company | Reduce -76.6% | 0.01% | −0.04 |
| SNPS Synopsys Inc. | Reduce -36.3% | 0.06% | −0.04 |
| PLTR Palantir Technologies Inc. Class A | Reduce -13.5% | 0.23% | −0.04 |
| CHTR Charter Communications Inc. Class A | Reduce -28.6% | 0.05% | −0.04 |
| PSX Phillips 66 | Reduce -30.4% | 0.08% | −0.04 |
| SBUX Starbucks Corp. | Reduce -23.1% | 0.13% | −0.04 |
| XOM Exxon Mobil Corp. | Reduce -16.5% | 0.36% | −0.04 |
| MO Altria Group Inc. | Reduce -19.3% | 0.10% | −0.04 |
| CMG Chipotle Mexican Grill Inc. | Reduce -52.0% | 0.03% | −0.04 |
| INTC Intel Corp. | Reduce -27.1% | 0.16% | −0.04 |
| BILL Bill Holdings Inc. | Reduce -62.5% | 0.02% | −0.04 |
| RACE Ferrari NV | Reduce -6.8% | 0.10% | −0.04 |
| DLR Digital Realty Trust Inc. | Reduce -36.2% | 0.05% | −0.04 |
| ADSK Autodesk Inc. | Reduce -54.5% | 0.03% | −0.04 |
Portfolio Buys Q3 2025 → Q4 2025
| SPY SS SPDR S&P 500 ETF Trust-US | Add +20.7% | 1.47% | +0.30 |
| UBS UBS Group AG-Reg | Add +6.0% | 1.29% | +0.23 |
| WMT Walmart Inc. | Add +29.8% | 0.52% | +0.16 |
| EA Electronic Arts Inc. | Add +268.3% | 0.20% | +0.15 |
| TTE Totalenergies SE | Add +1263.0% | 0.14% | +0.13 |
| MRK Merck & Co. Inc. | Add +13.4% | 0.40% | +0.12 |
| RSP Invesco S&P 500 Equal Weight | Add +39.8% | 0.37% | +0.11 |
| AVGO Broadcom Inc. | Add +0.9% | 1.63% | +0.11 |
| CSCO Cisco Systems Inc. | Add +13.9% | 0.45% | +0.10 |
| LITE Lumentum Holdings Inc. | Add +312.6% | 0.12% | +0.10 |
| WBD Warner Bros Discovery Inc. | Add +36.1% | 0.19% | +0.10 |
| BSX Boston Scientific Corp. | Add +40.7% | 0.28% | +0.08 |
| ROIV Roivant Sciences Ltd. | Add +570.0% | 0.08% | +0.07 |
| LRCX Lam Research Corp. | Add +4.8% | 0.26% | +0.07 |
| NKE Nike Inc. Class B | Add +77.5% | 0.17% | +0.07 |
| SLV iShares Silver Trust | Add +36.6% | 0.13% | +0.07 |
| KVUE Kenvue Inc. | Add +72.9% | 0.14% | +0.07 |
| DASH DoorDash Inc. Class A | Add +227.6% | 0.10% | +0.06 |
| CFLT Confluent Inc. Class A | Add +183.8% | 0.08% | +0.06 |
| CRH CRH PLC | Add +45.7% | 0.16% | +0.05 |
| EXAS Exact Sciences Corp. | Add +388.9% | 0.06% | +0.05 |
| CYBR Cyberark Software Ltd./Israel | Add +56.6% | 0.17% | +0.05 |
| MS Morgan Stanley | Add +3.0% | 0.37% | +0.05 |
| GE General Electric | Add +21.5% | 0.25% | +0.05 |
| IWM iShares Russell 2000 ETF | Add +24.2% | 0.24% | +0.05 |
| SJM The JM Smucker Co. | Add +238.7% | 0.08% | +0.05 |
| SCHW Schwab (charles) Corp. | Add +45.1% | 0.15% | +0.05 |
| PCAR Paccar Inc. | Add +74.4% | 0.10% | +0.05 |
| EAT Brinker International Inc. | Add +103.2% | 0.08% | +0.05 |
| TMO Thermo Fisher Scientific Inc. | Add +0.2% | 0.27% | +0.05 |
| SNOW Snowflake Inc. | Add +55.5% | 0.13% | +0.05 |
| EEM iShares MSCI Emerging Market | Add +35.5% | 0.16% | +0.05 |
| V Visa Inc. Class A | Add +1.7% | 0.81% | +0.04 |
| XLV SS Health Care Select Sector | Add +26.1% | 0.14% | +0.04 |
| CB Chubb Ltd. | Add +19.0% | 0.16% | +0.04 |
| CVNA Carvana Co. | Add +227.3% | 0.06% | +0.04 |
| GDXJ Vaneck Junior Gold Miners | Add +41.4% | 0.10% | +0.04 |
| TECK Teck Resources Ltd.-CLS B | Add +88.5% | 0.07% | +0.04 |
| RVMD Revolution Medicines Inc. | Add +183.6% | 0.05% | +0.04 |
| CDTX Cidara Therapeutics Inc. | Add +127.0% | 0.05% | +0.04 |
| OKE Oneok Inc. | Add +38.4% | 0.13% | +0.04 |
| BA The Boeing Co. | Add +16.7% | 0.23% | +0.04 |
| WFC Wells Fargo & Co. | Add +8.2% | 0.20% | +0.04 |
| BAC Bank of America Corp. | Add +3.7% | 0.33% | +0.04 |
| PEP Pepsico Inc. | Add +17.4% | 0.20% | +0.04 |
| PINS Pinterest Inc. Class A | Add +124.6% | 0.08% | +0.03 |
| CORZ Core Scientific Inc. | Add +201.0% | 0.06% | +0.03 |
| DB Deutsche Bank AG-Registered | Add +4.4% | 0.24% | +0.03 |
| COR Cencora Inc. | Add +57.0% | 0.08% | +0.03 |
| CSX CSX Corp. | Add +49.2% | 0.09% | +0.03 |
Options Activity Q3 2025 → Q4 2025
| MSFT Microsoft Corp. | call | Add +351.7% | 8,247,592 | $4.0B |
| SPY SS SPDR S&P 500 ETF Trust-US | put | Reduce -82.8% | 4,890,300 | $3.3B |
| NVDA Nvidia Corp. | put | Add +3.7% | 17,191,252 | $3.2B |
| IWM iShares Russell 2000 ETF | put | Add +33.2% | 10,834,300 | $2.7B |
| AAPL Apple Inc. | put | Add +10.1% | 9,794,100 | $2.7B |
| NVDA Nvidia Corp. | call | Reduce -15.7% | 12,933,860 | $2.4B |
| QQQ Invesco QQQ Trust Series 1 | put | Reduce -64.9% | 3,578,400 | $2.2B |
| TSLA Tesla Inc. | call | Add +28.3% | 4,505,469 | $2.0B |
| MP MP Materials Corp. | call | Add +388.5% | 33,925,880 | $1.7B |
| SPY SS SPDR S&P 500 ETF Trust-US | call | Reduce -21.7% | 2,359,612 | $1.6B |
| AAPL Apple Inc. | call | Add +17.6% | 5,441,387 | $1.5B |
| GLD SPDR Gold Shares | call | Add +31.1% | 3,726,082 | $1.5B |
| IWM iShares Russell 2000 ETF | call | Reduce -24.2% | 5,878,796 | $1.4B |
| GLD SPDR Gold Shares | put | Add +66.6% | 3,421,800 | $1.4B |
| QQQ Invesco QQQ Trust Series 1 | call | Reduce -29.1% | 1,968,084 | $1.2B |
| RKLB Rocket Lab Corp. | call | Reduce -0.2% | 17,330,323 | $1.2B |
| EEM iShares MSCI Emerging Market | call | Reduce -53.1% | 21,592,600 | $1.2B |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | put | Reduce -63.4% | 14,386,272 | $1.2B |
| MSFT Microsoft Corp. | put | Add +28.9% | 2,341,745 | $1.1B |
| GOOGL Alphabet Inc. Class A | call | Add +3.6% | 3,528,186 | $1.1B |
| TSLA Tesla Inc. | put | Reduce -13.5% | 2,438,990 | $1.1B |
| AMD Advanced Micro Devices | put | Add +22.2% | 5,073,100 | $1.1B |
| IEF iShares 7-10 Year Treasury B | put | Add +898.2% | 11,268,100 | $1.1B |
| TSM Taiwan Semiconductor-SP ADR | put | Reduce -4.9% | 3,485,742 | $1.1B |
| EEM iShares MSCI Emerging Market | put | Reduce -19.0% | 19,341,600 | $1.1B |
| AMZN Amazon.com Inc. | put | Add +17.4% | 4,446,550 | $1.0B |
| GOOGL Alphabet Inc. Class A | put | Reduce -28.9% | 3,234,208 | $1.0B |
| ALC Alcon Inc. | call | Reduce -3.6% | 12,402,930 | $977.5M |
| BAC Bank of America Corp. | put | Add +7.7% | 16,829,500 | $925.6M |
| MRVL Marvell Technology Inc. | put | Add +45.6% | 9,859,950 | $837.9M |
| LQD Ishr Ibx Usd Invgd CB ETF-Ui | put | Add +3320.8% | 6,841,500 | $753.9M |
| JPM JPMorgan Chase & Co. | put | Add +5.9% | 2,311,400 | $744.8M |
| PLTR Palantir Technologies Inc. Class A | call | Add +26.5% | 3,809,102 | $677.1M |
| GOOG Alphabet Inc. Class C | put | Add +2.4% | 2,142,500 | $672.3M |
| LQD Ishr Ibx Usd Invgd CB ETF-Ui | call | Add +2950.3% | 6,100,500 | $672.2M |
| AMD Advanced Micro Devices | call | Add +7.5% | 3,071,189 | $657.7M |
| AVGO Broadcom Inc. | put | Add +20.1% | 1,872,100 | $647.9M |
| META Meta Platforms Inc. Class A | put | Reduce -28.8% | 962,870 | $635.6M |
| META Meta Platforms Inc. Class A | call | Reduce -10.1% | 944,430 | $623.4M |
| ORCL Oracle Corp. | put | Add +185.9% | 3,007,400 | $586.2M |
| KWEB Kranesh Csi China Internet | call | Add +109.9% | 15,898,331 | $541.3M |
| CRWD CrowdStrike Holdings Inc. Class A | put | Add +30.4% | 1,107,500 | $519.2M |
| SNOW Snowflake Inc. | put | Add +112.1% | 2,358,200 | $517.3M |
| NFLX Netflix Inc. | call | Add +71.8% | 5,456,615 | $511.6M |
| BABA Alibaba Group Holding-SP ADR | call | Reduce -15.6% | 3,379,959 | $495.4M |
| INTC Intel Corp. | call | Add +95.1% | 13,318,498 | $491.5M |
| XLF SS Financial Select Sector | put | Reduce -22.8% | 8,688,200 | $475.9M |
| PLTR Palantir Technologies Inc. Class A | put | Add +11.8% | 2,659,510 | $472.7M |
| V Visa Inc. Class A | put | Add +0.9% | 1,327,000 | $465.4M |
| MU Micron Technology Inc. | put | Add +28.7% | 1,622,506 | $463.1M |
Showing the first 50 of 1,329.
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q3 2025 → Q4 2025
| ALIBABA GROUP HOLDING (BABA 0.5 06/01/31) | NOTE 0.500% 6/0 · principal | Add +140.5% | 42,820,000 | $66.5M |
| TELADOC HEALTH INC (TDOC 1.25 06/01/27) | NOTE 1.250% 6/0 · principal | New | 34,324,000 | $32.6M |
| EVERGY INC (EVRG 4.5 12/15/27) | NOTE 4.500%12/1 · principal | New | 23,606,000 | $28.7M |
| IREN LTD (IREN 3.25 06/15/30) | NOTE 3.250% 6/1 · principal | New | 8,384,000 | $20.5M |
| WAYFAIR INC (W 3.5 11/15/28) | NOTE 3.500%11/1 · principal | New | 8,507,000 | $19.5M |
| SHOPIFY INC (SHOPCN 0.125 11/01/25) | NOTE 0.125%11/0 · principal | Sold out | 17,336,500 | $18.2Mbefore exit |
| PEABODY ENERGY CORP (BTU 3.25 03/01/28) | NOTE 3.250% 3/0 · principal | New | 10,235,000 | $17.2M |
| UNITY SOFTWARE INC (U 0 11/15/26) | NOTE 11/1 · principal | New | 16,721,000 | $16.1M |
| PROGRESS SOFTWARE CORP (PRGS 1 04/15/26) | NOTE 1.000% 4/1 · principal | Add +19.4% | 15,850,000 | $15.7M |
| CONFLUENT INC (CFLT 0 01/15/27) | NOTE 1/1 · principal | Add +1000000.0% | 15,001,500 | $14.6M |
| PENNYMAC CORP (PMT 8.5 06/01/29) | NOTE 8.500% 6/0 · principal | New | 13,000,000 | $13.8M |
| GOSSAMER BIO INC (GOSS 5 06/01/27) | NOTE 5.000% 6/0 · principal | New | 15,000,000 | $10.1M |
| MARA HOLDINGS INC (MARA 2.125 09/01/31) | NOTE 2.125% 9/0 · principal | New | 12,200,000 | $9.8M |
| LEMAITRE VASCULAR INC (LMAT 2.5 02/01/30) | NOTE 2.500% 2/0 · principal | New | 9,538,000 | $9.5M |
| BANK OF AMERICA CORP (BAC 7.25 PERP L) | 7.25%CNV PFD L | Add +11.6% | 7,561 | $9.5M |
| ARRAY TECHNOLOGIES INC (ARRY 1 12/01/28) | NOTE 1.000%12/0 · principal | Add +757142.9% | 10,071,330 | $9.1M |
| WELLS FARGO & COMPANY (WFC 7.5 PERP L) | PERP PFD CNV A | Add +8.5% | 7,454 | $9.0M |
| ENCORE CAPITAL GROUP INC (ECPG 4 03/15/29) | NOTE 4.000% 3/1 · principal | New | 7,848,000 | $8.6M |
| MAGNITE INC (MGNI 0.25 03/15/26) | NOTE 0.250% 3/1 · principal | New | 8,000,000 | $7.9M |
| SEA LTD (SEALTD 0.25 09/15/26) | NOTE 0.250% 9/1 · principal | New | 7,925,000 | $7.7M |
| BLOOM ENERGY CORP (BE 3 06/01/28) | NOTE 3.000% 6/0 · principal | New | 1,593,000 | $7.4M |
| WEC ENERGY GROUP INC (WEC 4.375 06/01/29) | NOTE 4.375% 6/0 · principal | New | 6,345,000 | $7.4M |
| AKAMAI TECHNOLOGIES INC (AKAM 1.125 02/15/29) | NOTE 1.125% 2/1 · principal | New | 6,335,000 | $6.3M |
| KKR & CO INC (KKR 6.25 03/01/28 D) | 6.25 CON SER D | New | 112,554 | $5.8M |
| PROGRESS SOFTWARE CORP (PRGS 3.5 03/01/30) | NOTE 3.500% 3/0 · principal | Sold out | 5,000,000 | $5.0Mbefore exit |
| PINNACLE WEST CAPITAL (PNW 4.75 06/15/27) | NOTE 4.750% 6/1 · principal | New | 4,676,000 | $5.0M |
| SOUTHERN CO (SO 7.125 12/15/28 A) | UNIT 12/15/2028 | New | 97,632 | $4.9M |
| SEMTECH CORP (SMTC 1.625 11/01/27) | NOTE 1.625%11/0 · principal | New | 2,111,000 | $4.3M |
| WORKIVA INC (WK 1.125 08/15/26) | NOTE 1.125% 8/1 · principal | New | 3,562,000 | $4.1M |
| JD.COM INC (JD 0.25 06/01/29) | NOTE 0.250% 6/0 · principal | Reduce -20.8% | 3,800,000 | $3.8M |
| ETSY INC (ETSY 0.125 09/01/27) | NOTE 0.125% 9/0 · principal | Reduce -70.4% | 4,065,000 | $3.8M |
| H WORLD GROUP LTD (HTHT 3 05/01/26) | NOTE 3.000% 5/0 · principal | Add +190333.3% | 2,856,500 | $3.6M |
| CONMED CORP (CNMD 2.25 06/15/27) | NOTE 2.250% 6/1 · principal | Add +259624.1% | 3,454,330 | $3.3M |
| UPSTART HOLDINGS INC (UPST 0.25 08/15/26) | NOTE 0.250% 8/1 · principal | New | 3,327,000 | $3.2M |
| BOEING CO/THE (BA 6 10/15/27) | DEP CONV PFD A | Add +561.6% | 42,341 | $2.9M |
| FASTLY INC (FSLY 0 03/15/26) | NOTE 3/1 · principal | New | 2,760,000 | $2.7M |
| SNAP INC (SNAP 0.5 05/01/30) | NOTE 0.500% 5/0 · principal | New | 3,000,000 | $2.6M |
| MICROCHIP TECHNOLOGY INC (MCHP 0.75 06/01/30) | NOTE 0.750% 6/0 · principal | Sold out | 2,615,000 | $2.5Mbefore exit |
| GREEN PLAINS INC (GPRE 2.25 03/15/27) | NOTE 2.250% 3/1 · principal | New | 2,522,000 | $2.4M |
| BOX INC (BOX 1.5 09/15/29) | NOTE 1.500% 9/1 · principal | New | 2,452,000 | $2.4M |
| DROPBOX INC (DBX 0 03/01/28) | NOTE 3/0 · principal | Sold out | 1,716,000 | $1.8Mbefore exit |
| SHIFT4 PAYMENTS INC (FOUR 0.5 08/01/27) | NOTE 0.500% 8/0 · principal | New | 1,821,000 | $1.7M |
| ON SEMICONDUCTOR CORP (ON 0 05/01/27) | NOTE 5/0 · principal | Add +172.1% | 1,445,000 | $1.7M |
| AKAMAI TECHNOLOGIES INC (AKAM 0.375 09/01/27) | NOTE 0.375% 9/0 · principal | New | 1,525,000 | $1.5M |
| OMNICELL INC (OMCL 1 12/01/29) | NOTE 1.000%12/0 · principal | New | 1,287,000 | $1.4M |
| FIVE9 INC (FIVN 1 03/15/29) | NOTE 1.000% 3/1 · principal | New | 1,525,000 | $1.4M |
| CORZW Core Scientific Inc. - 27 | *W EXP 01/23/202 | Add +0.3% | 154,739 | $1.3M |
| TRANSMEDICS GROUP INC (TMDX 1.5 06/01/28) | NOTE 1.500% 6/0 · principal | Reduce -77.8% | 850,670 | $1.3M |
| EVOLENT HEALTH INC (EVH 3.5 12/01/29) | NOTE 3.500%12/0 · principal | New | 1,681,000 | $1.1M |
| NOVANTA INC (NOVT 6.5 11/01/28) | UNIT 11/01/2028 | New | 14,700 | $808K |
Showing the first 50 of 453.
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 8,634 | $628.7B | NVDA, AAPL, MSFT, AVGO, SPY |
| Q1 2026 | 8,728 | $563.1B | NVDA, AAPL, MSFT, SPY, AVGO |
| Q4 2025 | 8,711 | $504.5B | NVDA, MSFT, AAPL, AVGO, AMZN |
| Q3 2025 | 8,513 | $511.5B | NVDA, MSFT, AAPL, AMZN, AVGO |
| Q2 2025 | 8,500 | $477.9B | MSFT, NVDA, AAPL, AMZN, AVGO |
| Q1 2025 | 8,455 | $451.4B | AAPL, MSFT, NVDA, AMZN, SPY |
| Q4 2024 | 8,290 | $445.9B | AAPL, MSFT, NVDA, AMZN, AVGO |
| Q3 2024 | 7,908 | $356.9B | MSFT, AAPL, NVDA, AMZN, META |
| Q2 2024 | 7,931 | $325.5B | MSFT, AAPL, NVDA, AMZN, GOOGL |
| Q1 2024 | 7,779 | $303.0B | MSFT, AAPL, NVDA, AMZN, SPY |